"For now, the task for companies and investors is to continue to...

"For now, the task for companies and investors is to continue to cut costs and hope the cancellation of projects will lead to a supply shortage within a few years that pushes up prices. A sharp plunge in the Australian dollar without a corresponding fall in the US dollar coal price would also help."

COK seems very competitive cost wise (bottom quartile) and hopefully some competition in the labour/mining services market will also improve that figure (although likewise for other Australia miners unless locked in to contracts). They will also be coming on board with the expansion at potentially the perfect time.

Another added advantage is this is not a greenfields site...an expansion is far more likely to have funding approved compared to any greenfields project (get out of any coal greenfileds projects!). WHC is the most shorted stock atm!

In hindsight, mgmt were showing a level of confidence or arrogance by maintaing exploration costs over the last 9-12 months. They should have stopped completely until funding was sorted. Unless they are so confident (which they are communicating) - that they are simply keeping the company moving forward.

At the very least the KEB loan will be rolled over again. Offering them more options as compensation. If that is the case, costs have to be further reduced and start making some money while working on alternate funding options.

Some investors won't want to hear that, but the reality is COK is very speculative and I am willing to lose every cent. Otherwise, IMO you should not invest and that goes for all stocks not just COK...

It is interesting to note:

"Like a number of brokers in recent days and weeks (The Deutsche Boat yesterday, Credit Suisse and Macquarie’s quant perspective) Goldies (GS) says a declining Australian dollar, combined with stable commodity prices, should be supportive of mining performance even if a pick-up in global industrial production is slow to transpire."

4 weeks to go...